In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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Tag: second amendment

Attorney General Eric Holder said recently that in order to quell the violence spilling over from the drug war in Mexico he will push to reinstate the ban on “assault weapons” in the United States.

But, says Legal Policy Analyst David Rittgers in today’s Cato Daily Podcast, a policy like that won’t do much to quell violence.

The [drug] cartels have access to lots and lots of money because of our prohibitionist policies in the US. And because of this money they can get these weapons whether we have them legal or illegal…and they’ll have access to the black market to get fully automatic machine guns if they want them.

As I said earlier this week, Eric Holder’s push for an “assault weapons” ban is a misguided policy that will not have any serious impact on Mexican drug cartels. It really ought to be called a “ban on semi-automatic firearms with politically incorrect cosmetic features,” but that doesn’t exactly roll off the tongue. I am pleased to see that CNN is providing coverage of this that notes (1) the difference between semi-automatic sporting arms and machine guns and (2) that Mexican authorities are not releasing the serial numbers of firearms seized from the gangsters. This is probably because many of these guns are coming from the Mexican government, not American gun stores. The drug cartels are putting up billboards to recruit soldiers and policemen as hired muscle. Don’t be surprised when they walk off the job with the guns you issued them, and don’t shift the blame to the Second Amendment.